TMX Group Limited Gets a Hold Rating from Scotiabank

The Financial sector company, TMX Group Limited (TSX: X), has received a rating update from a Wall Street analyst yesterday. Analyst Phil Hardie from Scotiabank rated TMX Group Limited (TSX: X) a Hold, setting a C$73 price target.

According to TipRanks.com, Hardie is ranked #1064 out of 4628 analysts.

Currently, the analyst consensus on TMX Group Limited is Hold and the average price target is C$74.50, representing an 11.5% upside.

In a report issued on August 10, RBC Capital also reiterated a Hold rating on the stock with a C$76 price target.

Based on TMX Group Limited’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$206 million and quarterly net profit of C$66.5 million. In comparison, last year the company earned revenue of C$210 million and had a net profit of C$58.3 million.

TMX Group Ltd. operates cash and derivative markets for multiple asset classes including equities, fixed income and energy. The company provides clearing facilities, data products and other services to the international financial community. It operates through four segments: Cash Markets, Derivatives Markets, Energy Markets and CDS.

The company’s shares closed on Friday at C$66.83.

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